Rigel Pharmaceuticals (NASDAQ:RIGL) Posts Quarterly Earnings Results

Key Points

• Earnings miss and maintained guidance: Rigel posted Q1 EPS of $0.44 (vs. $0.80 expected) and revenue of $58.8M (vs. $62.4M) but net product sales grew 26% YoY, and the company reiterated its 2026 revenue guidance of $275M–$290M and remains on track for net income profitability that year.
• R289 clinical progress: The Phase I‑B program showed encouraging safety and efficacy (33% of evaluable patients ≥500 mg achieved ≥8‑week transfusion independence), with dose‑expansion topline data expected by year‑end and potential registrational discussions in 2027.
• Partnership risk: Lilly will terminate the RIPK1 collaboration effective June 15, 2026, returning the program to Rigel and creating near‑term uncertainty for that asset.

Rigel Pharmaceuticals (NASDAQ:RIGL - Get Free Report) issued its earnings results on Tuesday. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.36), FiscalAI reports. The firm had revenue of $58.82 million during the quarter, compared to the consensus estimate of $62.40 million. Rigel Pharmaceuticals had a net margin of 124.72% and a return on equity of 79.84%.

Here are the key takeaways from Rigel Pharmaceuticals' conference call:

• Q1 sales growth: Net product sales were $54.9M, up 26% YoY (TAVALISSE +31%, REZLIDHIA +31%), with demand improving in March after typical Q1 seasonal dynamics.
• Guidance and profitability: Rigel maintained 2026 guidance of $275M–$290M total revenue (net product sales $255M–$265M) and reiterated it remains on track to report net income profitability for the year.
• R289 progress: The Phase I‑B program showed encouraging safety and efficacy (33% of evaluable patients ≥500 mg achieved ≥8‑week transfusion independence), with dose‑expansion topline data expected by year‑end and potential registrational discussions in 2027.
• Business development and financing: Rigel is targeting late‑stage in‑licenses/acquisitions to support 2026–2028 launches and restructured debt into a $40M revolving credit facility (option to $60M), drawing $8M to provide flexible funding.
• Lilly will terminate the RIPK1 collaboration (ocadusertib) effective June 15, 2026; Rigel will regain the program but indicated RIPK1 is not central to its hematology/oncology strategy, creating near‑term uncertainty for that asset.

Rigel Pharmaceuticals Price Performance

RIGL traded down $1.45 during trading on Tuesday, reaching $28.09. 465,832 shares of the company were exchanged, compared to its average volume of 367,712. The company's 50-day moving average is $29.53 and its two-hundred day moving average is $35.57. The company has a market cap of $519.10 million, a price-to-earnings ratio of 1.49 and a beta of 1.21. The company has a quick ratio of 2.30, a current ratio of 2.42 and a debt-to-equity ratio of 0.06. Rigel Pharmaceuticals has a 12-month low of $16.88 and a 12-month high of $52.24.

Insider Transactions at Rigel Pharmaceuticals

In related news, Director Walter H. Moos sold 4,000 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $36.36, for a total transaction of $145,440.00. Following the sale, the director owned 12,722 shares of the company's stock, valued at approximately $462,571.92. This represents a 23.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.47% of the company's stock.

Institutional Trading of Rigel Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in Rigel Pharmaceuticals by 24.1% during the 4th quarter. Invesco Ltd. now owns 34,921 shares of the biotechnology company's stock worth $1,496,000 after purchasing an additional 6,790 shares in the last quarter. VARCOV Co. purchased a new stake in Rigel Pharmaceuticals during the 4th quarter worth about $238,000. Verdad Advisers LP bought a new position in Rigel Pharmaceuticals in the 4th quarter worth about $372,000. Virtus Investment Advisers LLC bought a new position in Rigel Pharmaceuticals in the 4th quarter worth about $279,000. Finally, Quadrature Capital Ltd bought a new position in Rigel Pharmaceuticals in the 4th quarter worth about $506,000. Hedge funds and other institutional investors own 66.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RIGL. Citigroup restated a "buy" rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, January 14th. Zacks Research upgraded shares of Rigel Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 18th. Wall Street Zen downgraded shares of Rigel Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Rigel Pharmaceuticals in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.67.

About Rigel Pharmaceuticals

Rigel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. Founded in 2003, Rigel focuses on the discovery, development and commercialization of novel small molecule therapeutics targeting immune, hematologic and oncologic diseases. Leveraging a proprietary chemistry platform and expertise in signal transduction pathways, the company aims to address significant unmet medical needs in both rare and common disorders.

Rigel's lead product, fostamatinib (commercially known as Tavalisse®), is an oral spleen tyrosine kinase (SYK) inhibitor approved in the United States for the treatment of adult patients with chronic immune thrombocytopenia (ITP).

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